In its 2018 ‘Reporting Matters’ statement, the World Business Council for Sustainable Development (WBCSD) has recognised CEMEX’s best reporting practices.
CEMEX created its Net Value to Society statement to heighten understanding of the materiality, relevance, and interdependency of the company’s positive and negative impacts. This includes those considered as externalities. In order to determine this value, multiple economic, social, and environmental impacts are added and subtracted from CEMEX’s retained benefit. The result is an essential step towards informed decision making and management, which will ultimately improve the value that CEMEX is able to contribute to the company, society, and the planet.
The Net Value to Society methodology is, according to the WBCSD, a tool that “consolidates positive and negative impacts proving its suitability for managing sustainability in a holistic way, while also providing key information for decision-making and risk management.”
The statement was first implemented as a key tool for sustainability management in CEMEX’s operations in the UK. In 2017, the company validated its methodology with KPMG’s comparable True Value methodology. It was then first applied on a global level in CEMEX’s 2017 Integrated Report.
“Our Net Value to Society methodology responds to the need to reflect how CEMEX’s activities impact society, allowing us to be more transparent, manage risks better, and achieve our sustainability ambitions,” said Jesus Gonzalez, Executive Vice President of Sustainability and Operations Development at CEMEX. “We are proud to see that the results in 2017 demonstrated that the net value that CEMEX created for society is higher than the company’s retained benefit. This underscored the great importance that our sustainability priorities have in the company’s strategy.”
The WBCSD is an organisation of more than 200 leading businesses, working together to accelerate the transition to a sustainable world. The organisation aims to help its members become more successful and sustainable by focusing on the maximum positive impact for shareholders, the environment, and societies.
CEMEX is a global materials company that provides high-quality products and reliable services to customers and communities in more than 50 countries. CEMEX has a history of improving the well-being of those it serves, through innovative building solutions, efficient advancements, and efforts to promote a sustainable future.
Read the article online at: https://www.worldcement.com/the-americas/02112018/wbcsd-recognises-cemexs-net-value-to-society-statement/